Category: New Century Dynamics Executive Search

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Unlocking Financial Mastery in Small Business Success

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In the dynamic world of small business, maintaining a robust and healthy cash flow is the lifeblood that fuels sustainable growth and long-term success. Imagine easily steering your business through these unpredictable waters, fortified by smart strategies that stabilize your financial inflows and outflows and prepare you for unexpected financial tides.

Whether you’re looking to renegotiate payment terms to gain a financial edge or harness customer feedback to refine your offerings, the right tactics can transform how you manage your business finances. Today, New Century Dynamics shares this comprehensive guide to help empower you to optimize cash flow, reduce high-interest burdens, and strategically invest in your business’s future, all while enhancing your financial acumen through practical learning opportunities.

Crafting Winning Payment Strategies

 

Maintaining a healthy cash flow is crucial for the success of your small business. One effective way to ensure this is by strategically negotiating payment terms with your suppliers. Understanding the market position of your suppliers can give you an edge in these negotiations. For example, if a supplier is under financial pressure, they might be open to offering discounts for early payments, which can benefit your cash flow. Building a strong relationship with your suppliers can further enhance your negotiating power, allowing for more favorable terms. Utilizing tools like Cargoflip can also help you manage and track payments efficiently, optimizing your cash outflows.

Empowering Your Financial Acumen with Education

Earning an online accounting degree can significantly boost your financial knowledge, equipping you with the skills necessary to maintain a healthy cash flow for your small business. The benefits of a bachelor’s accounting degree include allowing you to specialize in areas like managerial accounting and accounting research, enabling you to make more strategic financial decisions. Studying online offers greater flexibility, making it easier to balance your business responsibilities with learning. This convenient approach allows you to select world-class programs without the need to relocate or disrupt your daily operations.

Discovering Hidden Patterns in Cash Flow

To make informed financial decisions, it’s essential to analyze your business’s historical financial records. By doing so, you can identify patterns and trends in cash flow that can guide your strategic planning. For instance, recognizing seasonal variations in cash inflows and outflows can help you anticipate future cash flow challenges. This foresight ensures you have the necessary funds to cover operational costs and seize growth opportunities. If you notice increased cash inflow during specific months, it indicates potential seasonal demand surges, allowing you to plan your finances accordingly. This approach not only enhances your forecasting accuracy but also optimizes your cash management strategies for sustained financial health – click here to learn more.

Streamlining Finances with Expense Organization

Organizing your business expenses into operating costs, payroll, and marketing categories can provide valuable insights into your spending patterns. This practice allows you to pinpoint areas where costs can be reduced or streamlined. Accounting software can automate this process, ensuring accuracy and saving you time by applying predefined categorization rules. Regularly evaluating these categories also aids in creating precise budgets and forecasts, helping you plan effectively for future financial needs. This proactive approach not only enhances your financial control but also ensures compliance with tax regulations.

Elevating Products and Loyalty Through Feedback

Leveraging customer feedback is key to refining your products and encouraging repeat business. By analyzing customer feedback, you can identify areas for improvement, leading to better product offerings that resonate with your market. Successful businesses often see a significant increase in customer satisfaction by actively incorporating feedback into their development processes, which also boosts customer retention rates. Engaging your customers in the product evolution process demonstrates your commitment to their needs and fosters loyalty, ultimately stabilizing your cash flow and setting your business on a path for sustained growth and competitive advantage.

Slashing Interest with Debt Management

Formulating a structured debt repayment strategy targeting high-interest debts can significantly reduce overall interest expenses. By prioritizing debts with higher interest rates, you can tackle the most expensive obligations first, saving money in the long run. This method is particularly beneficial for small businesses looking to maximize financial efficiency and foster growth, as it minimizes the financial drain caused by high-interest payments. Regularly reviewing your budget to adjust this repayment plan ensures it remains effective as your financial situation evolves. This proactive approach aids immediate financial stability and forms a solid foundation for sustainable business expansion. Check out the avalanche method for more insights.

Aligning Investments for Continued Prosperity

To ensure your small business thrives in a constantly shifting market, it’s crucial to periodically assess and adjust your investment strategy. Regular reviews allow you to gauge how well your investments align with your business objectives and current market conditions, fostering financial stability. By analyzing market trends and economic indicators, you can make informed decisions that support sustainable growth and mitigate risks associated with market volatility. Additionally, enlisting the help of financial advisors can offer you specialized insights and personalized recommendations, providing an edge in fine-tuning your strategy for optimal returns.

Embracing these strategies not only fortifies your cash flow but also transforms financial management from a daunting task into an empowering tool for innovation and resilience. Your small business stands at the brink of potential – where informed decisions and strategic foresight meet to cultivate growth opportunities. By weaving these practices into the fabric of your operations, you’re crafting a narrative of enduring success, one where each financial maneuver propels your business toward a brighter, more prosperous future. So seize this moment to elevate your business acumen and cultivate a thriving financial ecosystem, where every choice you make today shapes a legacy of sustainable success!

Discover how New Century Dynamics can elevate your executive search and business strategy, celebrating 25 years of unmatched client service! Call 770-354-2817.

Thank you for visiting our blog.

Jim Weber – Managing Partner,  ITB Partners

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So, You Want to Go Big Time? Systems, Processes, and Procedures in Place?

This post is the third installment for entrepreneurs considering putting their small business on a bigger stage.

Success or Failure

Scaling your business requires a platform to build upon.  That platform comprises your business operating systems, processes, and procedures.  Your foundation must be strong enough to support your growing business, flexible enough to accommodate current expansion plans, and functional enough to support further growth.  You must be confident that operating systems, processes, and procedures are in place and functional.

You cannot just flip a switch and start growing!

One can build a solid foundation for growth while outsourcing some functions.  Functions often outsourced include Real Estate, Construction, Human Resources, Legal, and Marketing.  For Example, Paychex offers a 45% discount on payroll administration, HR, and PEO savings.   Operations and Accounting should be insourced, depending on the situation.  The entrepreneur must determine and prioritize functions to be managed internally or outsourced.  Whether the function is insourced or outsourced, trusted advisors and employees must oversee the outsourced resources.

I am often called upon to serve on advisory boards and to conduct searches for companies engaged in rapid growth.  Advisory Boards can be fun and exciting.  You will enjoy interacting with friends and colleagues.  Participating on an Advisory Board is more about ‘giving back’ than monetary compensation.  However, a fine meal and good fellowship are the rewards for attending each meeting.

When executives need help building a team to scale their enterprises, they call me.  They have determined the company needs more expertise to manage rapid growth.  The search is frequently for senior-level Operations Executives, CFOs, or Marketing Executives.   In these assignments, I look for executives who have worked for major brands, followed by success working in a smaller, entrepreneurial company.  This combination of experience positions these candidates for success with my clients.  This type of search has become my specialty.

Recruiting CFOs ensures the accounting system can support a growth-oriented business.  The accounting function must process and document transactions from additional points of distribution.  This function is critical from my perspective.  Too many companies failed because they needed to have appropriate accounting controls.  Poor controls led to the mismanagement of costs and expenses.  You must be confident that your accounting system fully aligns with your objectives.  If not, you need to rethink your plans.

Expanding your business requires hiring personnel to generate more revenue.   Expansion in the service and manufacturing sectors means opening more plants or retail outlets.  Expansion requires accelerated recruiting, selection, and training.  These are separate processes that require different skills.  Recruiting is about attracting interest.  Recruiting is a selling function.  Selection is about identifying the best applicants to hire.  Selection is a buying function.  Training is about teaching new hires to perform their jobs effectively.  Continuing developmental training provides new skills to ensure employees maintain their competitive advantage.

Key Components – Systems, Processes, and Procedures

    • Accounting Systems and Controls
    • HR – Employee Policies and Procedures
    • Culture-Values and Mission
    • Operating Systems

As the leader, the successful entrepreneur must create and maintain a culture that consistently delivers value to the customer.  A viable culture must have a value system and a code of conduct to guide employee behavior.  Corporate values should be documented and faithfully executed!  Maintaining the integrity of the culture during rapid growth is critical.  Employers must choose new hires based on compatibility with the company value system.  The Chief Executive must reinforce the Company Culture.  If the CEO is not confident that the culture and values are strong and healthy, growth may not be appropriate.  Management must address their culture before they consider significant growth.

Integrated computer software is the heart of contemporary operating systems.  These systems support the requirements for accounting and control for cash and credit, inventory management, employee payroll, and management reporting.  Documenting company policies and procedures and creating an employee handbook are integral components.  Safety and Security policies and procedures are also critical operational systems.  Business owners contemplating rapid growth must have complete confidence in their operating system.

Growing your business requires moving into new trade areas.  Your supply chain and logistics system must be capable of expanding service into new markets.  I witnessed one company selling franchises in markets beyond their distribution capabilities.  That created an undue burden on the new Franchisee until the Franchisor could serve that market.  It was an operations problem for the new Franchisee and an embarrassment for the Franchisor.  This logistics disconnect is not viable for successful expansion.  Regrettably, I have seen this mistake continually repeated over time.  Most small, local companies use third-party wholesale distributors, making the logistics challenge easier.  Even so, planning and coordination is required.

Summary and Conclusion

Every structure requires a foundation for support.  A large structure needs a strong foundation.  Organizations are the same, especially ones anticipating rapid growth.  The foundation of a business is its systems, processes, procedures, and culture.  When planning for rapid growth, the CEO must evaluate the integrity of the business foundation.  The CEO may proceed confidently.

Thank you for visiting our blog.

 

Jim Weber – Managing Partner,  ITB Partners

I hope you enjoyed our perspective and would like to receive regular posts directly in your email inbox. To this end, please put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me, so please leave a comment.

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Introverted Leadership: Mastering the Art of Quiet Influence

Elevate your leadership and transform your organization with New Century Dynamics Executive Search. Start your executive search today!

Introverted Leadership: Mastering the Art of Quiet Influence

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In the vibrant tapestry of leadership, introverts often shine with a distinct, understated brilliance. Traditionally overshadowed by their extroverted counterparts, introverts possess unique qualities that can transform the very essence of leadership. This article from New Century Dynamics Executive Search explores how introverts can embrace their natural inclinations and step into leadership roles authentically to redefine what it means to lead and inspire in today’s dynamic world.

Know Thyself to Lead Others

Understanding who you are is your first step toward leadership excellence. Reflect on your internal strengths and areas for improvement, pinpointing how these can influence your leadership style. Recognize the value of your quiet contemplation and thoughtfulness, which can be your greatest assets. As you become more attuned to your own tendencies, you’ll find it easier to navigate complex interpersonal dynamics and make informed decisions, laying a strong foundation for your growth as a leader.

Embrace Lifelong Learning

The business landscape is perpetually changing, and staying updated with the latest trends and skills is crucial. Maven suggests committing yourself to lifelong learning by enrolling in workshops, seminars, and courses that enhance your expertise. These continuous learning opportunities keep you relevant and enrich your understanding of diverse business scenarios, which is invaluable for a leader.

Build Strong Communication Skills

Effective communication is essential, especially for introverted leaders who may prefer fewer but more meaningful words. Develop your skills in active listening and clear, concise communication. These practices ensure that you articulate your vision effectively and understand your team’s feedback, which is critical for fostering an environment of trust and cooperation.

Empower Yourself Through Entrepreneurship

Initiating a side business can significantly enhance leadership skills and increase self-assurance. A well-crafted business plan and a strategic marketing initiative are crucial for laying a solid foundation and reaching potential customers. Raising sufficient capital is essential to cover startup costs and maintain business operations. Registering as a limited liability company offers benefits like asset protection and tax advantages, and you can start an LLC in with zenbusiness.com to take advantage of these perks.

Lead with Empathy

Introverts naturally excel at introspection and understanding, qualities that translate into empathetic leadership. You create a supportive atmosphere that encourages innovation and collaboration by genuinely engaging with your team and acknowledging their viewpoints. Their keen listening skills allow them to gather diverse ideas and feedback, which can be pivotal in developing well-rounded and inclusive strategies. This empathetic approach not only helps in resolving conflicts but also strengthens team loyalty and morale.

Network on Your Terms

Traditional networking can be overwhelming for introverts, but adopting strategies like one-on-one meetings or small group interactions can be more comfortable and effective. These approaches allow for deeper, more meaningful connections without the pressure of large crowds. By focusing on quality over quantity, introverts can build stronger professional relationships that feel authentic. Additionally, preparing conversation topics in advance can ease anxiety and help introverts feel more confident during interactions.

Delegation Is The Introvert’s Secret Weapon

Delegation is not just about offloading tasks but empowering your team. By assigning responsibilities according to each member’s strengths, you free yourself to focus on key leadership duties and enhance the team’s efficiency and morale. This strategy allows you to manage more effectively, playing to your strengths as an introvert and demonstrating trust in your team’s capabilities.

As an introvert, you have unique qualities that can make you a formidable leader. By confidently embracing your inherent traits and strategically developing essential skills, you can lead your team to success while staying true to yourself. Remember, leadership isn’t just about being at the forefront; it’s about guiding, empowering, and inspiring others to achieve collective goals. Embrace your journey, and watch as your quiet influence speaks volumes.

Thank you for visiting our blog.

 

Jim Weber, Managing Partner – ITB Partners

Jim Weber – Managing Partner,  ITB Partners

I hope you enjoyed our perspective and would like to receive regular posts directly in your email inbox. To this end, please put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me, so please leave a comment.

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Create Competent Customers

 

Building Productive Relationships

We’ve all heard the adage that the customer is always right. That’s mostly true; however, sometimes the customer is not right. But the customer is still the customer.  Sometimes, the vendor or service provider cannot satisfy the customer regardless of the effort invested.  This is unproductive for both parties and may derail current and future possibilities.  The best time to mitigate a faltering business transaction is at the beginning.

Last year, I observed a very instructive situation. It involved my client, a third-party manufacturer’s representative, and his customer. My client’s customer had experienced a massive flooding event.  He was anxious to mitigate the situation and return to the pre-event status.  Post Covid, vendors were still dealing with supply chain and labor issues.  Supply chains were sluggish in this industry segment, and companies were having difficulty with staffing and labor productivity. It was not an ideal situation for a smooth transaction.

The customer’s anxiety factored mightily into the conflict that followed.  His life had been turned upside down by the flooding event. Understandable. He wanted to return to normal and cut corners to accelerate the process.  He set a hard deadline to execute the contract the day before he went on vacation with his family.  I remember a flurry of activity that evening.  Emails going back and forth between my client and his customer required changes to vocabulary and schematics, which were difficult to decipher.  I viewed that evening as ridiculous.  My client did his best to incorporate all the required changes.  Eventually, the agreement was finalized.  The cost of the terms was accurately reflected in the project’s final scope.

The relationship was stressful from the beginning of the project. The customer did not want to honor payment terms, wasting time and fighting with my client. This infuriated the manufacturer.  The customer only relented when the manufacturer threatened to stop the project and sue the customer.

Keys to Creating a Competent Customer

    1. Maintain Clear and Open Communications
    2. Check References Before Closing a Deal
    3. Don’t Make Assumptions regarding Policy
    4. Talk with Other Knowledgeable Customers
    5. Review key terms of the agreement in advance.
    6. Understand your contract fully before you enter into an agreement

He made an issue of discussed components that did not make it into the agreement. Those costs were not added to the terms of the agreement, however.  Said components could have been added to the project at any time, but the customer decided against it.

The manufacturer had production problems related to internal issues, including labor. This further antagonized the customer, who vented his frustration at the manufacturer. The manufacturer retaliated by slowing down the process further.

My client had worked desperately to accommodate the customer’s need to complete the agreement before his vacation.  In hindsight, he should have forced the customer to slow down the process to ensure a better understanding.  There was no need to work so fast.

Ultimately, the project was completed,, albeit later than expected. Nevertheless, that did not delay the overall project, as other vendors were still engaged to complete their work. However, many relationships were affected.

Normal business practices were significantly disrupted by the COVID-19 pandemic, and in many cases, companies have not fully recovered. It was a challenging time as firms were fighting to recover and survive, and hard lessons had to be relearned.

The larger the transaction, the greater the customer’s responsibility to understand and be fully versed in delivering the product or service. In other words, the customer must be confident that rough spots won’t become significant issues.  As vendors or service providers, we should be sensitive to pressure points that create problems.  We should address those points, verbally and in writing, with the customer before executing the agreement.

Creating a competent customer requires the vendor or service provider to educate the prospective customer. The customer must know how the relationship will work, how problems will be resolved, and how and when payments will be made.  Key points in the agreement should be reviewed and understood by the customer.   Investing time to clarify the mechanics of the pending relationship is well advised.   Doing so will help ensure a healthy and productive working relationship.

Thank you for visiting our blog.

 

Jim Weber, Managing Partner – ITB Partners

Jim Weber – Managing Partner,  ITB Partners

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me, so please leave a comment.

 

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New Century Dynamics Executive Search COO Search

Jim Weber, President of New Century Dynamics Executive Search, has landed a new assignment to find a COO for an Ohio-based full-service restaurant company. Your interest and referrals are appreciated.

COO Job Description

The Chief Operating Officer (COO) is responsible for the successful operations of the Company’s retail outlets. This leader is accountable for developing systems, processes, and procedures to ensure the financial success of the brands. The Chief Operating Officer will own all operational aspects of the business to support the brands, including providing input/direction on brand strategy, driving location-level performance, directing/managing the food & beverage program, maintaining facilities, overseeing the build-out of new locations, and championing continuous improvement. This leader will model and support the values of the Company’s Culture and foster innovative thinking to manage, develop, and grow the enterprise. The ideal candidate will be instrumental in developing a high-performance culture built on respect, trust, accountability, and integrity.

 

RESPONSIBILITIES

OPERATIONS

    • Champion operational excellence and adherence to brand standards.
    • Empower and Lead Operations Managers to consistently deliver a cohesive brand experience to guests.
    • Develop systems, processes, and procedures to support the staff’s ability to deliver consistently high operational excellence.
    • Identify operational gaps and continuously improve related systems and controls.
    • Provide input on strategy and brand marketing direction in partnership with other leadership team members.
    • Manage brand performance metrics via improved reporting, information flow, management, and business process improvement.
    • Manage the creation and rollout of the brand dashboard at all levels of the organization.
    • Develop and maintain an innovative, best-in-class food & beverage program that provides guests with the best product experiences.
    • Oversee and drive the development of new locations for rapidly growing brands; support brand expansion, including new market pre-launch activities.

 

VISION, STRATEGY AND LEADERSHIP

    • Contribute to the building and achievement of the company’s strategic plan, advancing the company’s brand position, revenue, and growth.
    • Drive the development and preparation of short-term and long-range plans and budgets based on company goals and objectives.
    • Foster an environment where improvements to products, processes, and services are welcomed and encouraged.

 TEAM DEVELOPMENT

    • Promote a culture of high performance and continuous improvement that values learning and a commitment to quality.
    • Attract, develop, appraise, and retain a high-performance team; provide coaching and feedback for continuous improvement to foster a high-performance, energized work environment that reflects the organization’s culture.
    • Establish a system to ensure team members receive timely and appropriate training and development.

QUALIFICATIONS

    • Operations: Ten years’ experience managing multi-unit, multi-brand operations; hospitality and food & beverage required. Preferably cross-category experience (i.e., entertainment, fast casual, fine dining).
    • Proven ability to influence the marketing strategy and direction of start-up brands.
    • Experience scaling the business operations of an early-stage, comparable organization; experience as a proven business operator.
    • Experience managing rapid organizational changes and managing the impact of change.
    • Track record of delivering operating results while increasing sales and profitability.
    • An energetic, positive, relationship-oriented individual with a demonstrated track record of serving as a trusted partner to internal and external constituents.
    • Demonstrated ability in problem analysis and resolution at both strategic and operational levels.
    • Exemplary team-building skills and demonstrated ability to motivate and encourage teams.
    • Ability to collaborate with cross-functional teams to attain business goals/objectives.
    • Minimal travel, when necessary.

Personal Attributes:

    • Adaptable – You are flexible, resourceful, and can wear many hats. You are always looking for ways to improve and can look at a business with a critical eye. You are timely, proactive, and always follow through.
    • Accountable – You are a team player who will not pass the buck. Unafraid of having crucial conversations, you are empathetic but firm and are strong with conflict resolution.
    • Proactive – You are not afraid of new challenges. You identify issues quickly and drive through obstacles with ease to deliver high-quality results.
    • Analytical – You can effectively process financial information and express the business’s needs to your teams. You have an entrepreneurial mentality and are exceptionally organized in all your tasks.
    • A Communicator – You are a successful communicator and liaison between the field and the home office. You understand the hospitality industry and embrace our non-traditional business hours.

 

Salary Range:  $150,000 to $200,000

 

Benefits:

  • Med/Dental/Vision/Life.
  • Paid Time Off.
  • 401(k) with match after eligibility requirements are met to enter the plan.

 

Our Core Values are:

    1. Host the party – keep your guests happy.
    2. Be honest, open, and respectful when speaking AND listening.
    3. The team’s best interests come first. Think We, not Me.
    4. Bring positive energy, work hard, and, most importantly, have fun.
    5. Hold yourself accountable to the COMPANY way.

This document is presented to you in confidence.  All communication, whether written, oral, or electronic, should be addressed to:

James E. Weber, President

New Century Dynamics Executive Search

Tel. 770-354-2817; e-mail; jimweber@newcenturydynamics.com

 

 

Thank you for visiting our blog.

 

Jim Weber, Managing Partner – ITB Partners

Jim Weber – Managing Partner,  ITB Partners

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me, so please leave a comment.

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Jim Weber Lands VP Marketing Search

Jim Weber – President
New Century Dynamics Executive Search

New Century Dynamics Executive Search is pleased to announce that Jim Weber has landed an Exclusive Search to find a VP of Marketing for a Midwestern-based Casual Dining Brand.  This is an established, but growing franchising company looking for a seasoned Restaurant Marketing Professional to lead the Marketing Function.  This position reports to the CEO.

Position Summary: 

The VP/Director of Marketing will direct and oversee the Marketing department.  The role reports to the CEO and serves as the Brand Leader for The Brand. This role has oversight responsibility to design, implement and monitor effective marketing strategies that align with our business goals. The Successful Candidate plays a significant role in shaping the company’s strategic marketing planning and ensures strategies contribute to the company’s long-term success.

 

Essential Functions: 

    • Leads overarching brand strategy and initiative calendar of consumer-desired programs to support strategic goals and increase brand awareness.
    • Defines brand positioning in the marketplace, brand objectives for short- and long-term growth, and strategies and tactics to achieve growth.
    • Has a clear vision for the business; maintains a strategic perspective for concept development and enhancement. Generates and encourages breakthrough ideas to promote the development of the organization and its team members.
    • Uncompromising commitment to the guest experience; consistently seeks to improve guest satisfaction and understand core customer needs. Conducts consumer research and utilizes feedback to increase guest experience and identify challenges and opportunities for growth.
    • Skilled at the development and implementation of alternative strategies when faced with challenging environments; capable of completing key assignments and devising effective alternatives when roadblocks appear.
    • Ensures effective and efficient marketing, branding, and communications strategies across all channels.
    • Drive marketing ROI and performance through a result-driven approach, continually testing and evaluating new modern marketing opportunities and reporting results of programs.
    • Maximize marketing results across a variety of channels and vehicles. Utilize data/analytics to understand customer behavior, determine customer personas, and develop a comprehensive set of marketing programs.
    • Generate a clear view of our competitive landscape and positioning strategies. Identify opportunities to reach new market segments and expand market share.
    • Owns brand framework and visual identity.
    • Leads menu innovation strategy and menu engineering.
    • Conducts consumer research and understanding of core customer needs. Identifies challenges and opportunities for growth.
    • Prepares regular reports and presentations on marketing metrics for the CEO.
    • Oversees marketing team including team development. Sets current and long-term goals for the marketing team.
    • Designs and reviews the Marketing department’s budget.
    • Prioritizes marketing projects and allocates resources accordingly.
    • Forecasts hiring needs for the Marketing department
    • Participates in the quarterly and annual planning of the company’s objectives
    • Oversees Marketing expenses/allocations and regularly updates monthly projected sales.

Qualifications and Experience: 

    • Proven work experience as a VP of Marketing, Marketing Director, or another senior role.
    • Demonstrable experience designing and implementing successful marketing campaigns.
    • Experience with Google Ads, Facebook, Instagram YouTube, and other social platforms.
    • Experience with SEO marketing and optimizing content for landing pages.
    • Experience with content management software and digital marketing tools and techniques.
    • Strong leadership skills.

Please contact Jim Weber with your interests or referrals.

All communication, whether written, oral, or electronic should be addressed to:

 

Jim Weber – President
New Century Dynamics Executive Search

 

James E. Weber, President

New Century Dynamics Executive Search

Tel. 770-354-2817;

jimweber@newcenturydynamics.com

 

 

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Make a Counter-Offer!

Mark, a friend and colleague, called Monday, asking for advice on behalf of his daughter,  Julie.  She had just received a job offer.  It included a generous benefits package and a performance bonus.  However, the base salary was 10% lower than her expectation.  It occurred to me that the initial offer was a bit light.  The market value for that position is greater than the initial offer.  Mark’s question was, should Julie make a counteroffer, and how much?

Before answering his question, I probed a little to determine if this opportunity was, in fact, a good fit for Julie.  Also, I wanted to learn the extent of her interest in this company.  Was it something she sincerely wanted?  Mark explained that it aligned with her college degree and will give her direct experience in her chosen field.  She likes the product and the people.  They are optimistic about this opportunity.  Mark’s insight made it clear that this job had great potential for his daughter.  I was ready to answer his question.

I told Mark that an initial offer of employment is seldom the employer’s final offer.  Furthermore, savvy employers expect a counteroffer.  They want to hire the best talent at the lowest possible salary.  They have flexibility in the budget to pay more.  But they don’t know the candidate’s bottom line compensation requirements.  Why should their initial offer be the most they can afford?  The only way to resolve the question is to negotiate.  Mark was concerned that a counteroffer would cause the client to withdraw the offer.  I said that I had never seen that happen.  On the other hand, I have seen job offers rescinded if the candidate demonstrated inappropriate behavior during the negotiation process.  I told Mark that if Julie showed a lack of good faith or presented irrational demands, she could lose the job.

My answer was Yes, she should make a counter. Share on X

Mark was pleased to hear my perspective.  We then turned to how much she should request and how to deliver the counter.  I suggested that she ask the employer for the additional ten percent as I believe that to the market value for the position, given his daughter’s experience.  “The worst that can happen is that they will say no,” I said.  He asked me if I had a template they could use to draft her counteroffer.  I told him that he could find numerous examples on the internet and that I would be happy to review their response before they sent it to the hiring manager, which I did.

From my perspective, negotiating the starting salary and benefits package is the final part of the interview process.  These negotiations give the hiring manager a clearer sense of the candidate’s potential.  It reveals her problem-solving skills and ability to make her case and defend her position.  Negotiating the starting salary will be Julie’s first experience working for this company.  It will confirm her interest in working for this employer or not.  Negotiating the terms of a Job Offer is the final step in the interview process.

Key Attributes for Successful Negotiations

    • Confidence
    • Ability to state a position and make a case
    • Exhibits rational behavior
    • Performance under stress
    • Orientation toward win-win solutions
    • The Ability to Understand the Other’s Position

The ability to negotiate a better deal is fundamental to every business.  It is an essential skill that can be very useful to the employer.  Even though the negotiation abilities of a recent college grad may not be fully developed, the prospective employer will gain insight into the potential for further development.

I am often called on to engage in a search assignment for a newly created position.   Sometimes, the prospective client does not have a good feel for the market value of that position.  They rely on my expertise to determine a competitive compensation package.  However, I will not take on the assignment until we have established a competitive salary range that I can present to my candidates.  Otherwise, it would be a complete waste of time.  The new hire’s actual starting salary will require negotiation.  Employers expect you to make a counteroffer.  But remember, the prospective employer is still evaluating you throughout the salary negotiation process.

Upon reviewing Julie’s counteroffer letter, I found that it was a good product.  Still, I offered a few suggestions to make it better.  The employer accepted her counteroffer.  Julie started her new job on Wednesday.  Success!  Never hesitate to make a counteroffer.

Thank you for visiting our blog.

 

Jim Weber, Managing Partner – ITB Partners

Jim Weber – Managing Partner,  ITB Partners

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

 

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New Century Dynamics Lands Search for a Director of Marketing and E-Commerce DTC Meal Delivery Brand

Jim Weber lands New Search Assignment: “Director of Marketing & E-Commerce” VC-Backed, DTC Home Meal Replacement Brand.

We are seeking a Director of Marketing & E-Commerce – to manage in a hands-on manner all advertising channels including Facebook, Google Ads, Snapchat, Affiliate, email, organic, referrals, and others.  Emphasis will be on the paid channels, but the right candidate should be strong in all forms of media in order to pitch in as opportunities present themselves.

Director of Marketing & E-Commerce

 For more information, click on the link immediately below.

Director of Marketing & E-Commerce – New Century Dynamics Executive Search

 I would be happy to discuss this opportunity with you.  Shall we schedule a call to share information?  Here’s my calendar link to make finding time easy. 

https://calendly.com/jimweber

Best.  Jim Weber

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Jim Weber, Managing Partner – ITB Partners

Jim Weber – Managing Partner,  ITB Partners

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Posted on

New Search – Director of Information Technology – Midwest-based QSR

 

Are you a restaurant GM who is savvy about restaurant management information systems and technology? Would you like to transition into an IT Leadership role? If so, my client wants to talk with you! Share on X

Job Description Summary

The Director of Information Technology will manage and direct the company’s information technology (IT) operations, ensuring the department provides efficient and effective technical support services. S/he will strive to always provide exceptional service to both internal and external guests and will be responsible for exemplifying the culture and commitment to guest satisfaction.

Essential Job Functions

    • Oversight of technological systems, planning, implementation, storage, back-up, and maintenance of IT systems and processes
    • Develops excellence at our corporate and franchise POS software and operations, is responsible for new installations, and makes sure that all help desk tickets are answered efficiently and communicated to the user.
    • Ensure technology system controls are in place to comply with corporate policy and PCI standards
    • Identify security vulnerabilities and recommend strategic solutions
    • Develops and implements business continuity protocols to minimize disruption to business operations in the event of emergency situations or data loss
    • Provide administrative access to POS files, tracking, reporting, and works with other departments
    • Establishes efficiency and efficacy standards, providing recommendations for improvement of IT infrastructure
    • Maintains Support Center hardware, software, and infrastructure
    • Repair and replace hardware in stores or at the Support Center
    • Analyzes IT infrastructure and systems performance to assess operating costs, productivity levels, upgrade requirements, and other metrics and needs
    • Develop, manage, and track the IT department’s annual budget
    • Oversees security of systems, networks, and enterprise information
    • Facilitates IT security audits or investigations
    • Develops and maintains relationships with external IT vendors and service providers
    • Position may require after-hours coverage to include late nights and weekends
    • Position requires oversight of the entire Information Technology team
    • Provide direction, guidance, training to IT staff including hiring and handling employee concerns
    • Performs other related duties as assigned

Experience and Education:

    • Bachelor’s degree in Computer Science or equivalent experience required
    • At least 5 years of experience as a Restaurant General Manager.
    • Prior experience working in a Restaurant Corporate office setting is preferred but not required.

Job Requirements:

    • Must be a United States citizen or possess a valid work permit
    • Must have a valid driver’s license and meet company driving standards
    • Must be at least 28 years of age
    • Must have excellent leadership and coaching skills
    • Must be a positive example for franchisees and team members
    • Ability to work well under pressure
    • Ability to accurately follow instructions, both verbally and written
    • Must be highly detailed orientated
    • Must have a strong working knowledge of office computers, hardware, and the internet.
    • Working knowledge of SpeedLine Point-of-Sale equipment and software
    • Working knowledge of SpeedDine Online Ordering System is a plus.
    • Working knowledge of PUNCHH Loyalty and Guest Engagement Platform is a plus.
    • Ability to work in a fast-paced environment
    • Ability to travel overnight for a week at a time for new restaurant openings
    • Possesses excellent listening skills
    • Possesses excellent communication skills
    • Must be professional in appearance and demeanor
    • Always ensure a teamwork environment
    • Ability to work a flexible schedule that may include evenings, weekends, and holidays
    • Ability to deal effectively, interact well with our franchisees, guests, and team members
    • Ability to resolve problems/conflicts in a diplomatic and tactful manner
    • Passion for creating a “Best in Class” experience for our franchisees, guests, and team members

Working Conditions:

    • Reports to the CFO and works with all departments regularly
    • Has supervisory responsibility for direct reports
    • Must be able to stand and walk throughout the shift
    • Must be able to lift, and/or, carry up to 25 lbs. at shoulder height and push/pull up to 75 lbs.
    • Must be able to perform simple grasping, fine manipulation; repetitive hand and arm movements frequently; squeezing and overhead reaching occasionally

Benefits and Perks:

    • F&B Discounts
    • 401K
    • Paid Time Off from Day 1
    • Medical Benefits
    • Sick Pay from Day 1
    • Vacation available from Day 1
    • Bonus paid annually
    • Base salary $60,000 per annum

 

This document is presented to you in confidence.  All communication, whether written, oral or electronic should be addressed to: 

Jim Weber, President
New Century Dynamics Executive Search

 James E. Weber, President 
New Century Dynamics Executive Search
9370 Stoney Ridge Ln.  
Alpharetta, GA  30022 

 

 

 

 

 

 

Tel. 770-649-7051; Cell 770-354-2817;

e-mail; jimweber@newcenturydynamics.com 

Posted on

Announcing a New Operations Manager Search Assignment

New Century Dynamics Executive Search is pleased to announce that we have been engaged to find an Operations Manager for a Pizza Take-Out/Delivery Company in Central Ohio.

Operations Manager | Job Expectations

 Reports to: Chief Operating Officer

Direct Reports:

    • Multi-Unit Manager
      • General Managers

Schedule expectations:

    • Variable shifts and days
    • Evenings and weekends as needed
    • 45-50-hour workweek

General Job Expectations:

    • Autonomy to meet the goals of the role position and company, bring value, and process improvements.
    • Create an economic system to meet labor profitability goals offsetting company overhead.
    • Execute the company’s core focus – Proud to always serve unmatched quality in both pizza and experience – in all areas of responsibility.
    • Review financial statements, sales or activity reports, or other performance data to measure productivity or goal achievement or to identify areas needing cost reduction or program/process improvement.
    • Coordinate activities between all departments for smooth and efficient implementation of food and beverage initiatives, service initiatives, operational updates, and training programs.
    • Direct and coordinate operations, service, menu, restaurant environment, cleanliness standards, management development service style/system, food safety, and internal marketing initiatives at the restaurant locations.
    • Minimize security threats, shrinkage, and profit loss through regular audits, develop loss prevention procedures and hold teams accountable to security guidelines.
    • Assist with planning and implementation of annual events and company meetings as required.

 Core Areas of Responsibility:

Customer Retention

    • Motivate all managers and team members to become knowledgeable, organized, and task-oriented so they may use their energy, passion, and drive to focus on the customer.
    • Monitor guest feedback and take action on trends.

Supervision

    • Lead manage and hold accountable direct reports using the EOS model.
    • Coach, train, and develop direct reports.

Quality Control

    • Ensure all product and customer service standards are met.

Process Management

    • Approve Operational Manual edits (all processes used in food production, sanitation, and customer service) and update the Operations Manual.

Catering

    • Prepare menus, budgets, and goals.

Vendor Relations

    • Facilitate open discussions and communication with managers, team members, and other business or vendor partners to improve organizational efficiencies and practices.
    • Implement or oversee environmental management or sustainability programs addressing issues such as recycling, conservation, or waste management.

For more information, contact Jim Weber.

 

Jim Weber – President
New Century Dynamics Executive Search

Jim Weber, President
NEW CENTURY DYNAMICS EXECUTIVE SEARCH
JimWeber@newcenturydynamics.com